Spring Springs Early For Calgary Real Estate Market – Sales Blossoming

Posted by Alan Zunec on Thursday, April 4th, 2013 at 2:11pm.

Calgary’s real estate year is getting off to a prolific start. Unlike years past, the first quarter of 2013 has seen brisk sales, with some properties selling within days of being put on the market.

The Calgary Real Estate Board attributes this activity to a reduced inventory and increased demand. This year so far, the number of homes on the MLS system is down by 20 percent compared to what they were in 2012.

That agency’s Ann Marie Laurie noted that properties are not staying listed like they used to. Days on market averages are starting to go down, which causes average prices to go up. So far a single family home’s average price is nine percent higher than it was during the first quarter of 2012.

The price increase is also being helped by the number of high end homes being sold. In March alone 63 homes in the million-dollar plus range have changed hands, bringing this month into record territory.

Realtors are advising home sellers, perhaps emboldened by the recent sales activity, to not price their listings too aggressively. A strong market also means condos are doing well and buyers may opt for that type of property if single family prices are deemed to be too extreme.

Sales for the Calgary area, according to the CREB, are expected to be roughly the same in 2013 as they were in 2012.

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